CRUDE OIL TRADE HIGHER ON US PRODUCTION FALL

On Thursday, Commodity market opened positive after a volatile previous session as most of the segment traded up.

Crude oil prices continued to trade higher on positive fundamentals. Crude oil Feb delivery was trading up by 1.68% to RS. 4488 per barrel in the morning trade. Crude oil prices railed to 13 month high levels on fuel demand recovery hopes over vaccine rollouts and positive economic data from the US. The cold snap in Texas has shut some of oil production facilities which may support oil prices to trade firm.

On MCX, Natural Gas Feb delivery also soared as participants increased their long positions as seen by the open interest.

Indian Gold April Futures was trading in the green on Thursday tracking a positive trend seen in the international spot prices. Both Gold and silver plunged on Wednesday amid a rally in the dollar index and U.S. 10 years Bond yields.